The Government will make legislation to allow small-and medium-sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: this refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19 […]
The Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. If you’re self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021. VAT For VAT, the deferral will apply from 20 March 2020 until 30 June 2020. All UK businesses are eligible. […]
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis. All UK businesses are eligible. Eligibility: You will need to: designate affected employees as ‘furloughed workers,’ and notify your […]
The National Fraud Intelligence Bureau (NFIB) issued an urgent warning at the beginning of the month after identifying a growing amount of frauds involving coronavirus. There have continued to be an increasing amount of both email and telephone scams during the current crisis exploiting feelings of uncertainty. Please be extra vigilant when receiving incoming emails […]
In addition to the National Coronavirus Job Retention scheme announced yesterday, Rishi Sunak said he would “strengthen the safety net for those who work for themselves” with – Sick Pay The Chancellor announced that “self-employed can now access in full universal credit at a rate equivalent to statutory sick pay for employees”. The current SSP […]
Coronavirus Job Retention Scheme Further to a package of schemes to support business during the coronavirus crisis announced earlier this week, Chancellor Rishi Sunak announced a new job retention scheme yesterday. This will mean that UK workers of any employer who is placed on the Coronavirus Job Retention Scheme can keep their job, with the […]
The reclaiming of Statutory Sick Pay (SSP) for COVID19 has only just come into effect, this means that none of the payroll systems are currently designed to claim back SSP. If we process payrolls for you, it’s important to let us know if any employees are sick due to COVID19. We will then keep a record of so when the repayment mechanism […]
COVID-19 : SUPPORT FOR BUSINESSES The Chancellor set out a package of measures yesterday, in addition to those announced in the Budget 2020, to help support public services, people and businesses during this challenging time. These include: statutory sick pay relief package for SMEs a 12-month business rates holiday for all retail, hospitality and leisure […]
National Insurance thresholds The government has recently announced National Insurance thresholds for 2020/21. Most thresholds will rise with inflation. Two thresholds, however, will rise by 10% from £8,632 to £9,500: the primary threshold – which sets the level at which employees start to pay Class 1 National Insurance contributions (NICs) the lower profits limit – […]
The Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020. In his speech he stated ‘we are at the beginning of a new era in this country. We have the freedom and the resources to decide our own future’. ‘It is a Budget of a government that gets things done’. Our summary […]
